Lecture 15: Proof-of-Stake

Proof-of-Stake
- Proof-of-stake vs Proof-of-work
- “Nothing at stake” issue and slashing
- Benefits and Drawbacks of Proof-of-stake

[@sirsluginston]

Another great in-depth video

[@PedroOjeda]

Thank you so much! What a great video.

[@Jasonmnicholls]

I love this guy

[@explicacaoonline]

thank you so much for the next_block_producer explanation!

[@cesarsanchez5576]

My Notes: 5:20 Simple Proof-of-Stake Mechanism * In Proof-of-Stake (PoS) we calculate the next block producer * next_block_producer = hash_of prev_block % (total_amount_of_coins) * The more coins you have the more chances you have to be the next block producer * Problem 1: PoS is very dependant on the selected producer node, what if it gets offline? * Problem 2: There’s no right way to calculate the canonical chain * Problem 3: Predictability. “If I know Producer C will produce next block, I can try to DDOS them” * Nothing At Stake Problem: There’s no way to punish someone to try to do a Double-Spend attack * Solution: Having all selected producers watching each other through “slashing”

[@Jasonmnicholls]

Total newbie here, setting up small mining operation on Isle of Wight. Does that mean if you hold a fair amount of ETH, but just 16 GPUs that you might win against a much larger farm?